Welcoming the third economic package of the government in the wake of the COVID-19 pandemic, BJP president J P Nadda on Thursday said the Modi government's timely decisions and effective last mile delivery are leaving no stone unturned to make India self-reliant.
Finance Minister Nirmala Sitharaman on Thursday announced tax relief on select home sale deals, enhanced credit guarantee programme for small businesses and provided incentives for new job creation as the government widened stimulus measures to boost the economy.
The measures, which also include additional fertiliser subsidy and already announced production-linked incentive scheme for manufacturing units, totalled Rs 2.65 lakh crore, taking the cumulative stimulus package announced since the lockdown to almost Rs 30 lakh crore, or 15 per cent of the Gross Domestic Product (GDP).
This was the third economic package by the Modi government in the wake of the COVID-19 pandemic.
With these announcements, the total stimulus have gone up to Rs 29.87 lakh crore, which is 15 per cent of the GDP. The Modi government's timely decisions and effective last mile delivery is leaving no stone unturned to make India self-reliant, Nadda said in a series of tweets.
The announcements are noteworthy as it allocates Rs 1.46 lakh crore to the manufacturing sectors and Rs 65,000 crore to fertilizer's subsidy, enhances the outlays to the Pradhan Mantri Awas Yojana and the Garib Kalyan Rozgar Yojana, he said, adding that industrial stimulus and research and development grant for COVID-19 vaccine are also significant.
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